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Bitcoin Bull Cycle in Late Phase as Profit-Taking Hits New Highs
['Sabica Tahira']
TechJuice
The global cryptocurrency market has witnessed heightened volatility over the past 24 hours, with Bitcoin entering the late phase of its bull cycle as profit-taking spikes, while altcoins such as Solana and BNB record fresh momentum.
Despite short-term sell pressure, analysts suggest that a new all-time high for Bitcoin may still be possible in the next two to three months.
Market OverviewAccording to Glassnode, Bitcoin has slipped to $112,372, down nearly 9% from its recent $124,000 peak, signaling heavy profit-taking.
Still, short-term holders and new investors are aggressively accumulating, absorbing sell-side pressure from long-term holders.
• Short-term holders (STHs) added 159,098 BTC in September, offsetting long-term sell pressure.
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